Financing 2 cars....?

Samara Siewers: Possible yes but pretty clueless...you'll ruin your credit for the future and may never be able to finance a car or large purchase when needed.

Natalya Sydney: This repo would destroy your credit along with the lender would occur when you finally for your $10k possibly garnishing your salary to the song involving 25% of your respective pretax cash flow. you may destroy your credit money for hard times and might certainly not be able to financing a car or perhaps huge acquire while required.

Lino Cawthorne: Auto finance is what I do for a living and as long as you qualify for another loan without trading of course you can do this.And believe it or not, people do it everyday.Good luck....Show more

Madlyn Fallis: Keep the car you have now. You can't afford a new car and you're a complete fool if you think a repo is the right thing to do in this situation.All the lender is going to do is turn around and sue you for the unpaid balance on the ! loan. If you owe $10,000 more than the car is worth and they sell the car at auction for a loss then you're going to own the lender over $10,000 and they don't do payment plans. Once you go to court and lose you have to pay them in cash. If you don't have the cash they take it out of your paycheck until the money is paid in full. Don't be financially irresponsible. Keep the car, pay down your debts and start learning how to be personally responsible for your own financial situation....Show more

Rose Krouse: It would be INCREDIBLY stupid if you could qualify. And, most people cant qualify for 2 car loans at once.The repo would ruin your credit and the lender would come after you for the $10k possibly garnishing your wages to the tune of 25% of your pretax income.You are in a $10k hole. If you could get another car, that hole would quickly become $15k+.Stop digging....Show more

Cole Desher: You can't be this foolish. You already bought a car you can't afford an! d you want to do it again???? Never buy a new car. As you ha! ve learned, they DEPRECIATE in value and leave you upside down.Never finance a depreciating asset. If you do, do so for a very very very short term with lots of money down.Your option is to sell your car and pay the deficit, then buy a cheap beater. Or, keep it and pay it off.Buy Dave Ramsey's book -The Total Money Makeover - and learn to be smarter with your money.You recently posted a question stating that you are over your limit on a credit card. On top of the car debt, you run up credit card debt????????...Show more